DCMP 7038/2024

[2025] HKDC 1066

IN THE DISTRICT COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

MISCELLANEOUS PROCEEDINGS NO. 7038 OF 2024

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DECISION

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1. This is the second hearing of the applicant’s ex parte Originating Summons (“OS”) filed on 20 December 2024 for an order to pay certain unclaimed cash and securities into court and be given liberty to deal with or dispose of certain other pursuant to section 56 and 62 of the Trustee Ordinance ( Cap. 29 ) (“TO”).

2. The applicant has filed 3 Affirmations in support (1 ^st , 2 ^nd and 3 ^rd Affirmation of Chen, Weicheng, namely Chen’s 1 ^st Aff, Chen’s 2 ^nd Aff and Chen’s 3 ^rd Aff) and also taken out a Summons for leave to amend the OS on 24 April 2025 (“the Summons”). These, in part, deal with various requisitions raised by Deputy District Judge Simon Ho at the first hearing in his order dated 12 February 2025 (“the Order”, Hearing Bundle A, p. 63-68).

Background

3. The applicant was a securities brokerage firm dealing with shares listed on the Stock Exchange of Hong Kong Limited (“HKEx”) on behalf of its clients and has decided to terminate its business of dealing in securities and futures contracts as a broker (but not the agency brokerage services).

4. Accordingly, the applicant has filed a notice of cessation of such business with the Securities and Futures Commission (“SFC”) on 7 May 2024 pursuant to section 135 of the Securities and Futures Ordinance ( Cap. 571 ) (“SFO”). The cessation date, as acknowledged by the HKEx, was 9 December 2024.

5. The applicant had made the following attempts to contact its remaining clients on its cessation of brokerage business:

a. On 13 November 2023, sending letters to each of its clients at the correspondence address in the applicant’s record;

b. On 16 November 2023, sending emails to each of its clients, if there is an email address in the applicant’s record;

c. From 13 November 2023, making telephone calls to each of its client at the telephone number(s) in the applicant’s record;

d. From 15 January 2024 to 18 January 2024, making personal attendance at the correspondence address of each of its clients in the applicant’s record;

e. On 28 February 2024 and 13 March 2024, placing advertisements in Chinese and English in two locally circulated newspapers, namely Hong Kong Economic Journal and The